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The Latest Breaking News from Virgin Galactic

Branson’s rocket-launch firm Virgin Orbit files for bankruptcy

Virgin Orbit Holdings Inc. filed for bankruptcy after the satellite launch firm tied to British billionaire Richard Branson failed to secure the funding needed to keep operating and cut about 85% of its staff.

Tribune News Service

Musk’s SpaceX has once less competitor as Virgin Orbit files for bankruptcy

The startup founded by the Brit will not attempt to reorganize under protection from creditors but instead will pursue an outright sale.

Fortune

Virgin Orbit: Richard Branson's rocket company to lay off 85 per cent of staff

It follows a failed attempt to complete the first ever satellite launch from UK soil earlier this year

Wales Online

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Virgin Orbit ceases operations after failing to find funding

Virgin Orbit Holdings Inc., the satellite-launch company tied to British billionaire Richard Branson, is ceasing operations indefinitely, succumbing to growing cash-crunch pressures that have paralyzed startups in many emerging technologies.

Tribune News Service

Virgin Orbit extends employee furlough after finance deal falls through: report

Talks with two separate buyers collapsed over the weekend as Virgin Orbit seeks more cash to continue launch operations, a media report suggests.

Space

Virgin Orbit restarts operations with 'small' team as it works on finance deal: reports

Launch company Virgin Orbit is bringing back some of its furloughed employees after putting them on leave last week, according to media reports.

Space

Virgin Orbit eyes options as it works to generate cash flow: report

Launch company Virgin Orbit is engaging companies for discussions after furloughing most of its staff last week, according to media reports.

Space

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Former Virgin Galactic CEO enters US House race north of LA

Former Virgin Galactic CEO George Whitesides says he is seeking the U.S. House seat held by Republican Rep. Mike Garcia in a district north of Los Angeles

The Independent UK

Dow Jones Dives Amid Inflation Data Surprise; Elon Musk Offers This Defense Amid Big Tesla Recall

The Dow Jones fell amid new inflation data. Tesla stock dived even as Elon Musk lashed out over a recall. Microsoft stock lagged.

Investors Business Daily

‘Wings like cracked eggshells’: Richard Branson faces turbulence over safety of space flights

Investors are pursuing legal action against Virgin Galactic, claiming its carrier aircraft and space vehicle were not designed for regular space travel

The Guardian - UK

Elon Musk and infant son made surprise visit to Richard Branson in middle of the night before SpaceX flight

‘We made a pot of tea and sat outside under the stars and caught up’

The Independent UK

The Case for Space Billionaires

What critics of the private space race get wrong

Reason

Ald. Walter Burnett Jr.’s missing campaign money, local man gets Virgin Galactic refund after 15 years and more in your Chicago news roundup

Today’s update is a 5-minute read that will brief you on the day’s biggest stories.

Chicago Sun-Times

He paid Virgin Galactic $175K in 2007 to be on a spaceflight. Now 84, Elk Grove Village man, tired of waiting, got his money back.

Shefket Chapadjiev hoped to take a ride on one of Richard Branson’s Virgin Galactic rocket ships. But he’s happy with what he has in life — including a 1½ -year-old granddaughter.

Chicago Sun-Times

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The Conversation

The UK is about to have its first space launch – but Cornwall is unlikely to become a new Cape Canaveral

Virgin Orbit, a US company which provides launch services for satellites, has announced that the first orbital space mission from the UK will blast off from Cornwall. The rocket, which will carry nine satellites, along with a launch aircraft have been delivered by an RAF C-17 – a military, heavy-lift…

Benzinga

'My Trip To Space Was Supposed To Be A Celebration, Instead, It Felt Like A Funeral': William Shatner Shares Experience In Book

In October 2021, actor William Shatner became the oldest astronaut to go to space. In a new book, the "Star Trek" celebrity shares what he really thought about his time in space.

The Street

Palihapitiya, 'King of SPACs,' Makes an Ominous Move

Venture capitalist Chamath Palihapitiya pumps the brakes on blank-check companies.

AFP

Uncrewed Blue Origin rocket crashes in setback for space tourism

Washington (AFP) - An uncrewed Blue Origin rocket carrying research payloads crashed shortly after liftoff from Texas on Monday, but the capsule carrying experiments escaped and floated safely back to Earth.

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The Street

How Airlines May Revive Fast Air Travel at More Reasonable Price

American Airlines is buying 20 supersonic jets from Boom Supersonic.

The Independent UK

Ashton Kutcher says wife Mila Kunis had ‘sound logic’ in not letting him go to space

Kutcher bought a ticket to Virgin Galactic’s trip to space back in 2021, until wife Mila Kunis convinced him otherwise

The Independent UK

Mila Kunis told Ashton Kutcher he was ‘like a different guy’ with Vengeance mustache

Actor had to have a pencil-thin mustache for his latest film role

The Independent UK

Ashton Kutcher says wife Mila Kunis had ‘sound logic’ in not letting him go to space

Kutcher bought a ticket to Virgin Galactic’s trip to space back in 2021, until wife Mila Kunis convinced him otherwise

Input

Virgin Galactic's space tourism flights won't start for at least a year

The latest delay is due to "extended completion dates within the mothership enhancement program."

Benzinga

Benzinga Before The Bell: Should Investors Worry About Tesla's China Sales, Gold Back In Focus, Nio Smartphone Could Soon Be A Reality Other Top Financial Stories Friday, August 5

CNBC International Airlines Prepare For Mayhem Of Summer Travel Season: Report

The Street

Stock Market Today – 8/5: Stocks Ease After Stronger-Than-Expected Job Data

U.S. equities were a bit lower after a report showed that the economy added many more jobs than economists expected. The concern? Inflation.

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